Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1887-06-14
Novel Insurance.

49,
when man can lie insured against q
lay OF hshernan's luck the full scope
and possibility OF the Insurance b,,s;.
ness will have been reached. OF mora
important calamities the insurance Of
to-day take pretty thorough conr,i-
sance. The newest insurance ~ an IL
.he most interesting. however. It il
insurance against thieves. In Eng.
.and the plan dates back to 1S42 and
Is q general and popular reliance.
Inc massing Of wealth and population
~ that country forced an enterprise
IN this case which even Yankee inren-
ulty had not thought Of, but has now
nad to copy. The insurance
companies that do this business
are distinguished by the words
surety" or casualty" or .fidelity'
IN IN their titles. There are three in
New York, dating back six or seven
years; there is one in San Francisco a
year or two old, and there is one in
montreal that was founded thirteen
years ago. These institutions are
designed to protect employers from
thievlng employees, and to offer ham
ny, pnslness-like, reliable and strict
substitute for the boldsmen of old.
who were often sentimental, tricky.
uncertain and difficult to obtain.
The moment there is a shortage in
the accounts of a bonded employee
the employer notifies the insurance
company and that company paws the
amount OF the loss. In all cases of
dishonesty or doubt the first thing
tne bonding company does is to pay
the claim OF the loser. Then it goes
ior the thief. In ninety-nine cases out
OF @ hundred he has not run away.
Inns is curious discovery in this new
business. He has been extravaganza
or pressed by some demand he could
not meet and he has drawn S1OO or
SoOOor 81 ,000expecting to put it back
before his accounts were examined.
The examination has come sooner
than he could prepare for it and he
IS caught. In such cases the
bonding company sometimes
says: PAY that money back to-.
morrow morning and we will not
prosecute" In that event. the man 8
father or brother or nearest friend
raises the money and the man seeks a
new place. But no compromise is per-
mitted III criminal cases, as, for in
stance, those in whichaccounts are al
tered to conceal theft, or forgeries
are perpetrated. Restitution is often
offered IN such cases but never accept
ed. The Insurance company is stern
and heartless. The man must 90 to
jail. If he runs away the company
VIII hunt him down by an elaborate
system OF its own which includes and
augments all the other systems.
This fashioned, comprehensive
Incorporated bondsman has been
welcomed here and abroad both by
employers and employees. 1t used
to be disaereeable for a young man
who was offered position OF trust to
secure persons to go on his bond.
His best friends fought shy OF him.
told him their partnership contracts
prevented their signing for him or that,
frankly, they could not afford to take
the risk Or they went his CONNER
cial bail and charged him extortion-
ately for doing SO. Now he goes to a
business Office, states his case and for
what is mere trihe gets bondsman
satisfactory to any one. Ii he is
tempted to steal he remembers that
his bondsman is souless and stern
corporation that will show him no
mercy, and he desists. On the other
hand the employer never used to feel
secure with the old-fashioned individ.
ual bondsmen.